Mutual
Help
The scheme is for SEWA members and their families.
It is based on the principle of mutual help and
solidarity. Members of the insurance scheme
contribute their premium and mutually help each
other in time of calamity.
Self-Help
“Helping the members to help themselves” is the
motto of SEWA Insurance. Each member contributes
very low premium towards the coverage offered. Thus
she is made responsible for securing her own future
with the organizations assistance.
Integrated
Services
Our members face multiple risks in the duration of
their life. SEWA believes in providing an integrated
insurance package based on the needs of the members,
which provides coverage against various risks like,
sickness, death, asset loss and accident.
Sound
Insurance Principles
The program will run on sound insurance
principles. The proposed limits of coverage (sums
insured) are modest and appropriate looking to
SEWA's members. Insurance products are priced with a
margin for reserves and contingencies. Management
monitors claims loss ratio and other key indicators
on a monthly basis. All policy provisions are
modeled on the basis of policies that are in
longstanding use by leading Indian insurance
companies.
Financial
Viability
SEWA seeks to develop a long term, sustainable
insurance program. Accordingly, the program has a
disciplined "bottom line" approach to each line of
business. Capital is called for to cover the risk
exposures projected over the next five years.
Reinsurance is used prudently to limit losses
resulting from any unexpected claim fluctuations or
catastrophic events. A chartered accounting firm
audits SEWA Insurance each year and works closely
with management all year round. A consulting actuary
also provides ongoing services to ensure that SEWA
Insurance steadily moves towards financial viability
